Forex Partner up!
- Thread starter Lawan98
- Start date
- Watchers 5
sorry but finding that a bit hard to swallow. Forex by definition, has no borders so find it hard to believe that a broker may restrict the registration only to a few countries. Can you tell us which broker this is and what's the country in question?
Brokers are often restricted due to their own federal regulations and other country regulations. I'm in the US and I can tell ya about regulations!
My current brokers(USA) were restricted about 2 years ago to 50-1 leverage on majors and 20-1 leverage on exotics. I'm pretty sure I can't legaly have a broker outside of the states. I miss my 100-1
That just does not make sense, being in UK, I do not face any limitations. Sure, heard all about Dodd and the leverage issue but apart from leverage, not sure if forex brokers can be banned from opening up accounts to members from certain countries.
Oh, they can be banned. See this post for example:
http://www.earnforex.com/forum/f4/talking-about-regulation-4922/#post21662
Ahh yes!
So Brokers can be banned but can countries be banned - for example, can the US pass a regulation banning US based brokers from accepting members from Egypt? Would they go the extra mile and if so, for what purpose since it would mean that all Egyptian citizens would be banned from opening up an account with any US based broker?
So Brokers can be banned but can countries be banned - for example, can the US pass a regulation banning US based brokers from accepting members from Egypt? Would they go the extra mile and if so, for what purpose since it would mean that all Egyptian citizens would be banned from opening up an account with any US based broker?
Yes, they can ban residents of certain countries. For example, those that "support terrorism". Any financial transaction (including those involved in Forex account keeping) between US companies and certain countries are banned.
Yup!
That part I get..no issues there. But the part I have an issue with is a system which seeks to categorize all citizens under one umbrella just 'cause a few idijits wanted to blow up something. Do note, if the country in question did use terrorism as a state policy, eg Iran, Pakistan etc, can understand it to an extent but when that's not the case..
That part I get..no issues there. But the part I have an issue with is a system which seeks to categorize all citizens under one umbrella just 'cause a few idijits wanted to blow up something. Do note, if the country in question did use terrorism as a state policy, eg Iran, Pakistan etc, can understand it to an extent but when that's not the case..
Similar threads
